Former Finance Minister, Seth Terkper has stated authorities can reach negotiating for an awesome programme with the International Monetary Fund (IMF) if it assessment a number of its social intervention programmes consisting of the loose SHS.
He mentioned that the loose SHS coverage in its modern-day shape might now no longer be appealing to the IMF.
Speaking at the Accra-primarily based totally Joy FM Super Morning Show on Monday, July 4, 2022, monitored through Modernghana News, Mr. Terkper pressured that the debt degrees below this authorities may be very excessive to the volume that Ghana is now borrowing to provider the hobby of already borrowed ones.
“Free SHS in its unfettered shape isn't sustainable. Your debt isn't sustainable, and you’re borrowing. You’re the usage of your complete sales to cowl repayment and hobby. You’re borrowing for the beyond debts. You’ve borrowed to pay off the beyond debt which you borrowed to assist loose SHS. That’s now no longer a palatable discussion,” he stated.
According to him, former President John Mahama reviewed the two hundred E-block undertaking and decrease the range to one hundred fifty colleges earlier than attractive the IMF.
“We had been withinside the Fund [IMF] while crude oil expenses fell in 2015/2016. [Then,] our flagship programme became the E-colleges. We first of all said that we had been going to assemble two hundred colleges. But while the truth hit, President Mahama indicated that we had been now no longer going to have the ability to finish all of the two hundred, we can be capable of do one hundred fifty or even with that, we rolled it into 2017 and 2018. We had been capable of assemble approximately 70 while we had been leaving office,” he said.
Meanwhile, a few authorities officers such as Miss Abena Osei Asare, a Deputy Finance Minister and Kojo Oppong Nkrumah, the Information Minister have argued that authorities might nonetheless negotiate with the IMF to keep the loose SHS coverage.
On Wednesday, July 6, 2022, a delegation from the International Monetary Fund (IMF) is predicted to reach withinside the u . s . a . to formally start discussions on a bundle for Ghana.
This follows the authorities's declaration of its choice to are seeking for help from the IMF to assist salvage the u . s . a .’s ill economy.
blogpay
Total Comments: 0